It’s official: Thales and Gemalto are merging. With the March 28th deadline for Gemalto shareholders to accept Thales’ acquisition offer now passed, the companies report that 85.58 percent of shares have been tendered, rendering the deal unconditional. As of April 1st, Gemalto will be consolidated into Thales’ financial statements, while payment of the share offer…
The final deadline for compliance with the European Union’s revised Payment Services Directive (PSD2) is coming up in September of 2019. However, a new report from the Aite Group and iovation suggests that most payment services providers are not prepared. And those that do comply are expected to turn to some form of biometric authentication.…
Thales is now ready to move ahead with its acquisition of Gemalto, even if the merger has not obtained all of the global regulatory clearances yet. The companies have announced that Thales is waiving the Offer Condition pertaining to antitrust and foreign investment regulations in Russia, the last remaining country in which the merger has…
“The companies say that together with the antitrust and foreign investment clearances they have received from authorities in Australia, Canada, China, the European Union, Israel, Mexico, New Zealand, South Africa, and Turkey, as well as the CFIUS, they now have 12 of the 14 regulatory approvals needed for their merger.” Only two more regulatory clearances…
“The approval is dependent on Thales’ agreement to sell off its Hardware Security Modules business, a condition that was also set by other regulatory authorities, perhaps most notably the European Commission.” Thales and Gemalto are now on the cusp of sealing the deal for their proposed merger: The companies have announced that Thales’ offer to…
Thales and Gemalto have cleared another two hurdles in their race to get approval for their proposed merger: The companies have announced that they have received clearances from the Australian Competition and Consumer Commission and Mexico’s Comisión Federal de Competencia Económica. The news comes only a week after the companies’ announcement that they had attained clearance from…
Thales and Gemalto have attained another clearance for their proposed merger, this time from the New Zealand Commerce Commission. The approval comes hot on the heels of one from the European Commission announced earlier this week. As in that case, Thales and Gemalto noted in a statement that the clearance has arrived “following Thales’s commitment to…
Gemalto and Thales have cleared what was perhaps the highest hurdle in their pursuit of a merger, announcing in a new statement that the European Commission has granted them “merger control Regulatory Clearance”. Thales had first made its all-cash offer to acquire Gemalto in the spring of this year, but was compelled to push back…
Switzerland’s Competition Commission, WEKO (for “Wettbewerbskommission”), has raided the offices of Credit Suisse, UBS, TWINT, and other domestic financial services providers in a probe concerning unfair business practices toward mobile payments platforms including Apple Pay and Samsung Pay. WEKO says it is investigating the possibility that these organizations have organized a boycott of the mobile…
